July 12, 2013

China allocates more funds to boost poultry sector 

The Chinese government has allocated another RMB300 million (US$48.54 million) to boost the poultry sector, which has been reeling from the effects of the H7N9 avian influenza virus since March.

This is according to the Ministry of Finance on Thursday (Jul 4).

The move came after the government had injected RMB600 million (US$98 million) into the sector in May and another RMB300 million (US$49 million) in June. The subsidies will mainly be used to cut interest rates for short-term loans to poultry enterprises.

The latest figures from the China Animal Agriculture Association show that the industry has recorded more than RMB40 billion (US$6.5 billion) in losses since the H7N9 outbreak in March.

In addition to the subsidies from the central government, 10 provinces, including Henan, Shandong and Guangdong, have issued preferential policies to help poultry breeders.

To prevent the spread of the H7N9 virus, the government had ordered poultry to be culled in some areas since March. It also closed live poultry markets to reduce human contact with birds.